Banks; minimum capital stock requirement. (SB517)

Introduced By

Sen. Frank Wagner (R-Virginia Beach)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Banks; minimum capital stock requirement. Provides that the directive that the State Corporation Commission not issue a certificate of authority to a bank unless it finds that individuals have subscribed for specific amounts of the bank's capital stock and surplus does not apply to the Commission's issuance of such a certificate to a bank holding company or to a resulting bank in connection with certain types of mergers involving the holding company and its subsidiary bank. Read the Bill »


Bill Has Passed


01/08/2014Prefiled and ordered printed; offered 01/08/14 14103327D
01/08/2014Referred to Committee on Commerce and Labor
01/13/2014Reported from Commerce and Labor (14-Y 0-N) (see vote tally)
01/15/2014Impact statement from SCC (SB517)
01/15/2014Constitutional reading dispensed (38-Y 0-N)
01/16/2014Read second time and engrossed
01/17/2014Read third time and passed Senate (38-Y 0-N)
01/23/2014Placed on Calendar
01/23/2014Read first time
01/23/2014Referred to Committee on Commerce and Labor
01/23/2014Impact statement from SCC (SB517)
02/25/2014Reported from Commerce and Labor (21-Y 0-N) (see vote tally)
02/27/2014Read second time
02/28/2014Read third time
02/28/2014Passed House BLOCK VOTE (98-Y 0-N)
02/28/2014VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
03/05/2014Bill text as passed Senate and House (SB517ER)
03/05/2014Signed by Speaker
03/06/2014Impact statement from SCC (SB517ER)
03/08/2014Signed by President
03/27/2014G Approved by Governor-Chapter 372 (effective 7/1/14)
03/27/2014G Acts of Assembly Chapter text (CHAP0372)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 30 seconds.